Eh, he's not that bad. Stoneplate cheese is a huge threat, but not an unavoidable one, so it's fine.
He is absolutely devastating when he gets his spells off and he ults a priority target, but all that is so unreliable that it's not that OP.
He needs four items minimum (cinderhulk, righteous glory, mercs, stoneplate) to even begin being a threat in teamfights, and that'll run him over ten thousand gold.
If he pops RG, he's a huge threat because of his movement speed and the impending Feast, but his size holds him back here. Cho is big enough that, no matter how good his reactions, he straight up can't dodge most skillshots without flashing, assuming they were aimed in his general direction. This is why Cho prefers Mercs to tabi; he can't avoid CC, so he needs to minimize its impact.
In most situations, all he can do to get his target into his belly is to land rupture on them and hope their allies don't help them, and we all know how easy it is to dodge rupture. His new E makes him pretty sticky, but it relies on him already being in range to hit them.
His kit, then and now, is balanced solely because of his unreliability. He's less unreliable now, but still has enough "Ifs" in his kit that he's not OP.